E-Commerce Giant Alibaba To Use Blockchain For Tracking Goods For Its Tmall Global Marketplace

E-Commerce Giant Alibaba To Use Blockchain Technology For Tracking Goods

The subsidiary of Alibaba Group, Tmall Global, is running tests on a blockchain technology to be able to trace imported goods. There are different features being implemented, including a system of image recognition and laser marks. The main intention behind it is to be able to monitor the delivery on every single step of the process. The information was released by u.today on February 25.

Imported goods will have also a “visa” feature that will be tracing a QR code of this specific imported good. As soon as goods are bought firms have to attach the QR code on top of the goods’ packaging. Some information regarding the product must be provided such as the time of the purchase and the location, among other things.

Users can scan the QR code and receive all the information regarding this product. Alibaba’s subsidiary wants to create the QR codes on its own. This works in a similar way as VeChain’s RFID. As soon as the QR code is removed, it is eliminated. Moreover, it will be non-reusable or replicable anymore. Since the system is based on blockchain technology, there will be no possibilities to change or erase it.

There will also be some laser marks and other technologies in place that will stop codes from being copied or modified. According to local reports, the system for tracking goods using blockchain technology will be used for high-end goods and also the fashion industry.

In the past, JD.com, an e-commerce giant in China, decided to implement a tracking system based on distributed ledger technology as well. With it, it was possible to provide users with information about the product that they were purchasing. Specifically, the DLT platform aimed at improving the quality of the products consumed by buyers.

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Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


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